LIVE: Pranab Mukherjee was a towering statesman, says PM Modi

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2:36 AM

Reliance Retail likely to cut down on back-end staff after Future deal

Reliance Retail may rationalise the workforce that will be added following the acquisition of the Future group's retail, logistics, warehousing and wholesale assets in a near Rs 25,000-crore transaction. Read more

2:34 AM

At Rs 8.21 trn, April-July fiscal deficit exceeds FY21 budget estimates

The stress on revenue resources due to Covid-19 continued showing on the Centre’s books. For April-July, the Centre’s fiscal deficit stood at Rs 8.21 trillion, or 103 per cent of 2020-21 budget estimates of 7.96 trillion, compared to 77.8 per cent for the same period last year, official data showed on Monday. In 2019-20, fiscal deficit had crossed 100 per cent of the full year BE by October-end. Read more

2:32 AM

Biocon-Mylan launch insulin Glargine at lowest price in US market

Biotechnology major Biocon’s subsidiary Biocon Biologics and partner Mylan have launched insulin glargine injection, under the brand name Semglee, in the US market, said the Bengaluru-based company on Monday. Read more

2:31 AM

Ambani-Biyani deal: Retail arm leads Future firms' rally on bourses

In a weak market, the listed stocks of Future Group were the biggest gainers on Monday. The gainers were led by Future Retail (FRL), which was up 20 per cent. Most other stocks hit their upper circuit, gaining 5 per cent each. As part of the deal announced on Saturday, Future Group will be selling its retail assets to Reliance Retail in a deal pegged at Rs 24,713 crore. Read more

2:31 AM

Zoom raises annual revenue target on remote work boost

Zoom Video Communications Inc raised its annual revenue forecast by 30% after comfortably beating quarterly estimates on Monday, as it converts more of its huge free user base to paid subscriptions.
 

Shares of the company, which have surged almost four-fold this year, rose 5% after the bell. They hit a record high in regular trading.
 

Video-conferencing platforms, once used mostly as a technological substitute for in-person meetings, became a vital part of day-to-day life this year for people stuck at home under coronavirus restrictions, be it for work, school or socializing.
 

Zoom, however, has come under fire for its security and privacy shortfalls, prompting many companies and countries to curb the use of the platform.

The company said revenue rose 355% to $663.5 million, above analysts' average estimate of $500.5 million.

10:44 PM

Five persons injured after speeding car ran over them in Mumbai's Crawford Market

10:42 PM

India received 27% more rainfall this August; heavy downpour likely in next 3 days

The India Meteorological Department (IMD) on Monday predicted heavy to very heavy showers in parts of north, northeast and south India in the next three days, highlighting that the country recorded its highest rainfall in 44 years in the month of August.
 

Nearly 5,000 people were shifted to safer places in Gujarat's Bharuch and Vadodara districts after flooding in several villages due to rise in level of the Narmada river, while over 3,000 people have been evacuated from Bhandara and Chandrapur districts of Maharashtra's Vidarbha after heavy downpour in neighbouring parts of Madhya Pradesh.
 

In Delhi the water level of the Yamuna was receding gradually and the river was flowing below the warning mark in Delhi. Light to very light rain and thundershower occurred at isolated places in Uttar Pradesh, and heavy rains were recorded in several parts of Rajasthan.

10:39 PM

Bengal govt offices will remain closed on Tuesday to show respect to Mukherjee

All state government offices in West Bengal will remain closed on Tuesday as a mark of respect to former President Pranab Mukherjee who died in New Delhi, the state Home Department said here.
 

If his funeral does not take place on Tuesday, the offices will also remain closed on the day when it will happen, the department said on Monday.
 

The state government also postponed its Police Day programme slated for Tuesday by a week and it will now be held on September 8.
 

Mukherjee, who hailed from West Bengal, died at Army Research and Referral Hospital in New Delhi on Monday at the age of 84.

10:39 PM

Country has lost one of its greatest leaders: Manmohan Singh on Mukherjee

RSS chief Mohan Bhagwat on Monday expressed grief over the death of former President Pranab Mukherjee, hailing him as "a great scholar and a patriot" whose loss cannot be compensated.
 

"India's former President Dr Pranab Mukherjee's passing away is a huge loss for all swayamsevaks who had come in contact with him. I had met him twice when he was President and three to four times afterwards," Bhagwat said in a video message in Hindi.
 

The very first meeting with him made me forget that I was speaking to President of India due to his humble behaviour.

10:38 PM

Country has lost one of its greatest leaders: Manmohan Singh on Mukherjee

Former prime minister Manmohan Singh on Monday expressed condolences on the demise of former president Pranab Mukherjee and said the country has lost one of its greatest leaders.
 

Singh said he had learnt a lot from Mukherjee and depended on him a great deal for his wisdom, vast knowledge and experience of public affairs.
 

"I have learnt with profound sorrow about the passing away of Shri Pranab Mukherjee, Former President of India,” he said.
 

“In his death, our country has lost one of its greatest leaders of Independent India. He and I worked very closely in the government of India and I depended on him a great deal for his wisdom, vast knowledge and experience of public affairs," Singh said in his condolence message.

 

10:27 PM

CAG questions Assam govt's financial practices, doubts accuracy of accounts

Raising questions over the accuracy of accounts, the Comptroller and Auditor General of India (CAG) has said the budget assumptions of the Assam government were "not realistic" in 2018-19 and various policy initiatives were not fulfilled due to "non-completion" of the preparatory works.
 

In its audit report on the the state's finances for the year ending March 31, 2019, which was tabled in the Assam Assembly on Monday, the CAG said the government failed to take corrective steps despite the auditor pointing out the lacunae every year.
 

"Budgetary assumptions of the state government were not realistic during 2018-19 and despite carrying out an elaborate pre-budget exercise to bring about efficiency and transparency in budget formulation and execution, budgetary estimates were off the mark to a considerable extent," it said.
 

Considering the state's overall budget of Rs 1,08,490 crore, the auditor also said that the control over execution and monitoring was inadequate.
 

"Significant policy initiatives of the government were not fulfilled during the year due to non-completion of the preparatory activities relating to these initiatives," the CAG said.
 

On the quality of accounts and financial reporting practices, the CAG said booking of an expenditure of Rs 14,879 crore under omnibus Minor Head 800 - Other Expenditure affected transparency and accuracy in financial reporting.
 

10:18 PM

BJP used drug, cricket betting and other illegal money to destabilise coalition govt: HD Kumaraswamy

10:15 PM

Pence describes President Trump and PM Modi as 'larger than life figures'

US Vice President Mike Pence on Monday described President Donald Trump and Prime Minister Narendra Modi as “larger than life figures” and credited the two top leaders for strengthening the strategic bilateral ties.
 

“When you think about the US and India, you think about two strongest democracies in the world, the shared values,” Pence said during a virtual event on the US-India organised by the US-India Strategic Partnership Forum (USISPF), a non-profit organisation.
 

He credited Prime Minister Modi and President Trump for strengthening the bilateral ties and said the relationship between India and the US has never been so strong, but the best is yet to come.
 

"So much of the strong India-US ties is a result of the relationship that President Trump and Prime Minister Modi have forged. They are both larger than life figures. People know where they stand. They have great aspirations,” Pence said.
 

10:13 PM

JEE-NEET: Railways allows students, guardians appearing for exams to travel by special suburban services in Mumbai, says Goyal

10:12 PM

JEE-NEET exams: Lockdown will not be applicable to students, parents in Rajasthan

10:08 PM

Bangladesh President, PM mourn Pranab Mukherjee's demise

Bangladesh President Abdul Hamid and Prime Minister Sheikh Hasina have expressed sorrow over the demise of former president Pranab Mukherjee, describing him as a "true friend" and recalling his “outstanding and unforgettable” contributions to the country's 1971 Liberation War.
 

Mukherjee, a veteran politician, died on Monday evening following a 21-day battle with multiple ailments. He was 84.
 

"His demise has caused an irreparable loss to the political arena of the sub-continent," Hamid said, describing Mukherjee as a "real and sincere friend" of Bangladesh.
 

He said Mukherjee played a crucial role in mobilising international support for Bangladesh's 1971 independence which "quickened our victory".

Hasina also called Mukherjee a “true friend” of Bangladesh and a guardian-like figure to her family.
 

“The news of Mr Pranab Mukherjee's demise deeply saddened her . . . she became emotional and nostalgic as she reminisced her many memories with him,” state-run BSS reported quoting the premier's press secretary Ihsanul Karim.
 

Hasina, she said, also recalled Mukherjee's “outstanding and unforgettable” contributions to the country's 1971 Liberation War.
 

“I always recall with profound respect his invaluable contributions to our Liberation War,” she said.
 

Hasina said Mukherjee always extended her cooperation to her family while they were in exile in India after the assassination of her father and Bangladesh's founder Bangabandhu Sheikh Mujibur Rahman in 1975 along with most of his family members. 

Bangladesh PM Sheikh Hasina | Wikimedia Commons

 

8:58 PM

Nitin Gadkari to inaugurate, lay foundation stone of 11 highway projects in UP

Union minister Nitin Gadkari will lay foundation stone of and inaugurate 11 highway projects worth Rs 4,300 crore in Uttar Pradesh on September 1, the Road Transport and Highways Ministry said on Monday.

 

Uttar Pradesh Chief Minister Yogi Adityanath will preside over the virtual function, to be attended by Minister of State for Road Transport and Highways V K Singh, Deputy Chief Minister of UP Keshav Prasad Maurya and Ministers from the State, several MPs, MLAs and senior officers from the Centre and the state.

 

These projects will pave way for faster development of the state ensuring better connectivity, the Road Transport and Highways said in a statement.

 

"These projects for inauguration and foundation laying carry a road length of 363 kilometres, involving construction value of Rs 4,281 crore. Paving the way for development of Uttar Pradesh, these roads will enhance better connectivity, convenience and economic growth in and around the state," the statement said. READ MORE...

8:56 PM

Pranab Mukherjee contributed much to the US-India relationship: Ken Juster

8:48 PM

Govt announces 7-day state mourning on ex-Prez Pranab Mukherjee's death

The government on Monday announced a seven-day state mourning following the death of former president Pranab Mukherjee.

 

In a statement, the home ministry said that as a mark of respect to the departed dignitary, state mourning will be observed for seven days throughout India from August 31 to September 6, both days inclusive.

 

"During the period of state mourning, the national flag will fly at half-mast on all buildings throughout India, where it is flown regularly, and there will be no official entertainment," the statement said. The date, time and venue of the state funeral will be intimated later, it said. Mukherjee passed away at Army Research and Referral Hospital here on Monday at the age of 84.

8:36 PM

Latest News LIVE: Ola, Uber in Delhi-NCR to go on strike from Tuesday

Cab aggregators Ola and Uber in Delhi-NCR will be on a strike from Tuesday demanding extension of the moratorium on loan repayment and a hike in fare in view of the COVID-19 pandemic, according to a PTI report. Around 200,000 drivers of the cab services have given the strike call as their appeals have not led to any action by the government, said Kamaljeet Singh Gill, the president of Sarvodaya Drivers Association of Delhi.

 

"Due to the acute financial crisis caused by lockdown, drivers are unable to pay their EMIs. The moratorium of loan repayment ended today and the banks are already putting pressure on us. Drivers are scared that banks will tow away their vehicles for not paying EMIs," Gill said.

 

The cab drivers have also demanded that fare be hiked and commission increased by Ola and Uber. Gill said the fare should be fixed by the government instead of the cab aggregators.

8:33 PM

Notification issued for Monsoon Session of Lok Sabha to begin from September 14

8:26 PM

China's relation with Pakistan goes back to early 60s, says EAM S Jaishankar

8:21 PM

Punjab rejects options on GST compensation, seeks rethink

Rejecting the two options offered by the Centre for GST compensation to the states, Punjab Finance Minister Manpreet Badal on Monday asked Union Finance Minister Nirmala Sitharaman to reconsider the decision, according to an IANS report.

 

Terming the decision a "clear breach of the solemn and constitutional assurance", he, in a letter to Sitharaman, said it would be considered a betrayal of the spirit of cooperative federalism that formed the backbone of Goods and Services Tax (GST) journey so far.

 

Punjab would like full clarity on each of these issues and that the matter is once again placed on the agenda in the next meeting of the GST Council, he said. Manpreet Badal also suggested constituting a Group of Ministers to deliberate on the matter and make recommendations in a time-bound period of 10 days.

8:11 PM

BKT Tires announces collaboration with six franchises for IPL 2020

Balkrishna Industries Ltd. (BKT Tires), the Indian multinational group and global player in the off-highway tire market, has announced that it will be sponsoring six teams -- Mumbai Indians, Chennai Super Kings, Delhi Capitals, Kings XI Punjab, Kolkata Knight Riders and Rajasthan Royals -- in the 13th edition of the Indian Premier League (IPL 2020).

 

"Cricket is a very popular sport in India. Everyone loves the game and we at BKT are unstoppable when it is about sport. We are pleased and excited to be a part of an event that is much followed in our home country," Rajiv Poddar, Joint Managing Director of BKT, said. READ MORE...

8:05 PM

Kerala rejects Govt's proposal of borrowing by states to meet GST shortfall

Kerala will reject "lock, stock and barrel" the Centre's proposal of borrowing by states to meet GST revenue shortfall, state finance minister Thomas Isaac said on Monday.

 

The Centre and opposition-ruled states like Punjab, Kerala, Delhi and West Bengal, are at loggerheads over the financing of the Rs 2.35 lakh crore Goods and Services Tax (GST) shortfall in the current fiscal. Of this, about Rs 97,000 crore is on account of GST implementation and rest Rs 1.38 lakh crore is the impact of COVID on states' revenues.

 

The Centre last week gave two options to the states to borrow either from a special window facilitated by the RBI or from market and has also proposed extending the compensation cess levied on luxury, demerit and sin goods beyond 2022. READ MORE...

8:02 PM

During State mourning, national flag to fly at half-mast on buildings across India: MHA

7:56 PM

JEE, NEET exams: IIT students, alumni help candidates hitch ride to centres

With several JEE and NEET aspirants facing difficulty in reaching their exam centres amid the Covid pandemic and heavy rains leading to flooding in certain parts of the country, students and alumni from the Indian Institutes of Technology (IITs) have come up with a solution.

 

IIT students and alumni from the likes of IIT Delhi Alumni Association (IITDAA), IIT Bombay and IIT Madras have come together to launch a user-friendly transport portal called www.eduride.in, which offers transportation facility for joint entrance examination (JEE) Main and Advance as well as National Eligibility cum Entrance Test (NEET) 2020 candidates. READ MORE...

7:43 PM

Govt announces 7-day state mourning on demise of former president Pranab Mukherjee

7:36 PM

Delhi govt warns private schools against charging beyond tuition fees till schools reopen

The Delhi government has warned private schools against collecting additional charges other than tuition fee and also asked them not to raise the fees till schools reopen, according to a PTI report. The government has warned that the defaulter schools will be penalized as per Delhi School Education Act and Rules, 1973.

 

in a letter to school principals, Education Department Director Udit Prakash Raj said such act of schools is not only in a clear violation of directions issued earlier but also an inhumane act on their part keeping in view the prevailing COVID-19 pandemic conditions and long closure of schools.

 

"These schools are run by trust and charitable societies, hence, as per their Memorandum of Article, are supposed always to keep in mind the charity and providing of education to the students without indulging in profiteering, he said.

7:21 PM

Defence Ministry inks Rs 2,580-crore deal to procure Pinaka rocket launchers

The defence ministry on Monday sealed a deal with two leading domestic defence majors to procure Pinaka rocket launchers for six Army regiments at a cost of Rs 2,580 crore, news agency PTI reported. They said the Pinaka regiments will be deployed along India's border with China and Pakistan to further enhance operational preparedness of the armed forces.

 

The contract has been signed with Tata Power Company Ltd (TPCL) and engineering major Larsen & Toubro (L&T) while defence public sector undertaking Bharat Earth Movers Ltd (BEML) will also be part of the project.

 

The BEML will supply the vehicles on which the rocket launchers will be mounted.